London, UK -- (SBWIRE) -- 05/10/2019 -- The Global Non-Destructive Testing Equipment (NDTE) Market is projected to increase from USD 4.3 billion in 2017 to USD 5.8 billion in 2024, at a blooming CAGR of 5.1% from 2018 to 2024.

The growth in the non-destructive testing equipment market is attributed to rising demand for user-friendly software, increasing demand for reliable and safety oriented machines, government protocols and stringent safety guidelines, and evolving infrastructure sector with high performance machines. Moreover, the advancement in semiconductor technologies with decision making tools, and rising need for optimum utilization of aging assets are also impelling the market growth over the forecast period. The years used for the assessment are as follows:

Historical year : 2014, 2015 and 2016

Base year : 2017

Forecast period : 2018 – 2024

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RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share.
Analyzing the collected data points
Bridging the data points to calculate the total non-destructive test equipment market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global NDTE market
Finalizing the overall size and share of the global NDTE market

OBJECTIVES:

To classify global non-destructive testing equipment market into segments on the basis of type, technique, application, end-user, region and analyze their growth prospects individually
To analyze market trends, opportunities, drivers, and restraints associated with the global NDTE market
Profiling key companies operating in the global NDTE market
To study market response with respect to the mergers and acquisitions in the industry

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MARKET SCOPE

The research scope for non-destructive testing equipment market is as follows:

By Type
Contact
Electromagnetic Testing
Eddy Current Testing
Ultrasonic Testing
Liquid Penetrant Testing
Non-Contact
Visual Testing
Radiography Testing
Thermography

By Technique
Surface Examination
Volumetric Examination
Others (Condition monitoring and integrity inspection)

By Application
Flaw Detection
Leak Detection Dimensional Measurement
Physical Analysis
Chemical Analysis
Plasma Emission Testing
Corrosion Emission Testing

By End-Use
Power Generation
Oil & Gas
Petrochemical and pipes
Aerospace
Automotive
Infrastructure
Others

By Region
Asia-Pacific (APAC)
North America
Europe
Latin America and Middle East & Africa

Free Analysis

The global non-destructive testing equipment (NDTE) market is projected to increase from USD 4.3 billion in 2017 to USD 5.8 billion in 2024, at a CAGR of 5.1% from 2018 to 2024. The growth in the non-destructive testing equipment market is attributed to rising demand for user-friendly software, increasing demand for reliable and safety oriented machines, government protocols and stringent safety guidelines, and evolving infrastructure sector with high performance machines. Moreover, the advancement in semiconductor technologies with decision making tools, and rising need for optimum utilization of aging assets are also fueling the market growth over the forecast period.

NDT monitors as well as improves the performance of the equipment, so as to ensure its proper ageing and avoid its failure. It is used to monitor the temperature, deformations, defects, flaws, and other parameters to keep the machine reliable. The industries are going through a rapid change owing to the increase in demand for modernization in power generation sectors.

Geographically, North America held the largest share in the global NDTE market followed by Europe. The growth is mainly driven by the huge capital investments in energy domain such as oil and gas. Growing demand for machines used in power generation plants and increasing number of power plants are the major factors for the growth in this region. Whereas, Asia-Pacific (APAC) is expected to rise significantly due to rapid growth in infrastructure and power generation in countries such as Japan, China and India.

Key companies operating in the NDTE market includes Zetec Inc., Olympus Corporation, Nikon Metrology NV, Eddyfi NDT Inc., MISTRAS Group, Inc., Magnaflux, YXLON International, Sonatest, Ashtead Technology, and Socomore among others.

Table of Contents

Global Non-Destructive Testing Equipment (NDTE) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Non Destructive Testing Equipment (NDTE) – Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the NDTE Market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Market driver analysis

3.5.1.1. Rising demand for user-friendly software

3.5.1.2. Increasing demand for reliable and safety oriented machines

3.5.2. Market restraint analysis

3.5.2.1. Lack of skilled operators

3.5.2.2. Lack of awareness regarding the equipment

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Non-Destructive Testing Equipment (NDTE) Market Size and Forecast (2014 – 2024)

5.1. Global NDTE Market, By Type (USD Billion)

5.1.1. Contact

5.1.1.1. Electromagnetic Testing

5.1.1.2. Eddy Current Testing

5.1.1.3. Ultrasonic Testing

5.1.1.4. Liquid Penetrant Testing

5.1.2. Non-Contact

5.1.2.1. Visual Testing

5.1.2.2. Radiography Testing

5.1.2.3. Thermography

5.2. Global NDTE Market, By Technique (USD Billion)

5.2.1. Surface Examination

5.2.2. Volumetric Examination

5.2.3. Others (Condition monitoring and integrity inspection)

5.3. Global NDTE Market, By Application (USD Billion)

5.3.1. Flaw Detection

5.3.2. Leak Detection Dimensional Measurement

5.3.3. Physical Analysis

5.3.4. Chemical Analysis

5.3.5. Plasma Emission Testing

5.3.6. Corrosion Emission Testing

5.4. Global NDTE Market, By End-use (USD Billion)

5.4.1. Power Generation

5.4.2. Oil & Gas

5.4.3. Petrochemical and pipes

5.4.4. Aerospace

5.4.5. Automotive

5.4.6. Infrastructure

5.4.7. Others

CHAPTER 6. Global NDTE Market Size and Forecast, By Geography (2014 – 2024)

6.1. North America NDTE Market (USD Billion)

6.1.1. North America NDTE Market, By Type (USD Billion)

6.1.2. North America NDTE Market, By Technique (USD Billion)

6.1.3. North America NDTE Market, By Application (USD Billion)

6.1.4. North America NDTE Market, By End-use (USD Billion)

6.1.5. North America NDTE Market, By Country (USD Billion)

6.1.5.1. U.S.

6.1.5.2. Canada

6.2. Europe NDTE Market (USD Billion)

6.2.1. Europe NDTE Market, By Type (USD Billion)

6.2.2. Europe NDTE Market, By Technique (USD Billion)

6.2.3. Europe NDTE Market, By Application (USD Billion)

6.2.4. Europe NDTE Market, By End-use (USD Billion)

6.2.5. Europe NDTE Market, By Country (USD Billion)

6.2.5.1. Germany

6.2.5.2. France

6.2.5.3. U.K.

6.2.5.4. Italy

6.2.5.5. Rest of Europe

6.3. Asia-Pacific NDTE Market (USD Billion)

6.3.1. Asia-Pacific NDTE Market, By Type (USD Billion)

6.3.2. Asia-Pacific NDTE Market, By Technique (USD Billion)

6.3.3. Asia-Pacific NDTE Market, By Application (USD Billion)

6.3.4. Asia-Pacific NDTE Market, By End-use (USD Billion)

6.3.5. Asia-Pacific NDTE Market, By Country (USD Billion)

6.3.5.1. China

6.3.5.2. Japan

6.3.5.3. Singapore

6.3.5.4. South Korea

6.3.5.5. India

6.3.5.6. Rest of Asia-Pacific

6.4. Latin America and Middle East & Africa (MEA) NDTE Market (USD Billion)

6.4.1. Latin America and Middle East and Africa (MEA) NDTE Market, By Type (USD Billion)

6.4.2. Latin America and Middle East and Africa (MEA) NDTE Market, By Technique (USD Billion)

6.4.3. Latin America and Middle East and Africa (MEA) NDTE Market, By Application (USD Billion)

6.4.4. Latin America and Middle East and Africa (MEA) NDTE Market, By End-use (USD Billion)

6.4.5. Latin America and Middle East and Africa (MEA) NDTE Market, By Country (USD Billion)

6.4.5.1. Latin America

6.4.5.2. Middle East

6.4.5.3. Africa

CHAPTER 7. Key Players and Strategic Developments

7.1. Zetec Inc.

7.1.1. Business Overview

7.1.2. Product and Service Type

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Olympus Corporation

7.2.1. Business Overview

7.2.2. Product and Service Type

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Nikon Metrology NV

7.3.1. Business Overview

7.3.2. Product and Service Type

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Eddyfi NDT Inc.

7.4.1. Business Overview

7.4.2. Product and Service Type

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. MISTRAS Group, Inc.

7.5.1. Business Overview

7.5.2. Product and Service Type

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Magnaflux

7.6.1. Business Overview

7.6.2. Product and Service Type

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. YXLON International

7.7.1. Business Overview

7.7.2. Product and Service Type

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Sonatest

7.8.1. Business Overview

7.8.2. Product and Service Type

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Ashtead Technology

7.9.1. Business Overview

7.9.2. Product and Service Type

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Socomore

7.10.1. Business Overview

7.10.2. Product and Service Type

7.10.3. Financial Overview

7.10.4. Strategic Developments

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